Private Equity

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eFounders

Quentin Nickmans, Thibaud Elzière and Amaury Sepulchre founded eFounders in 2011; the Brussels studio has launched 50 SaaS companies now worth $5B...

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eFounders

Hexa is a startup studio partnering with founders to build ambitious companies. We're building in lots of different areas with only one focus: software.

General information

Firm type

Private Equity

Year founded

2011

AUM

Undisclosed

Location

Region

Europe

Country

Belgium

City

Brussels

Corporate office

Brussels, Belgium

Principals

Quentin Nickmans

Senior Partner and Founder

Thibaud Elzière

Senior Partner and Founder

Amaury Sepulchre

Senior Partner and Founder

Matthieu Gombeaud

CEO

Florent Quinti

Partner

Matthieu Vaxelaire

Partner

Augustin Celier

Partner

Guillaume Lerouge

Partner

Maxime Brousse

Partner

Raphael Vullierme

Partner

Sector focus

Enterprise SoftwareFinTechSaaSAI/ML

Frequently asked questions

How does eFounders source new company ideas?

Most ideas are generated internally by the founding partners and their team of product and GTM experts. They look for gaps in business software, often in areas adjacent to previous successes — fintech, collaboration, and sales tools. External founders pitch the studio as well, but the model is weighted toward inside-out origination.

What does the built-in team actually do inside a portfolio company?

Hexa employs roughly 30 product managers, designers, engineers, GTM specialists, and finance operators who embed full-time with a startup for its first 12 to 18 months. They handle product discovery, initial build, go-to-market motion, and early fundraising. The goal is to replace studio operators with a hired permanent team as the company scales.

Is eFounders structured as a venture capital fund?

No. eFounders is a startup studio, also called a venture builder. It commits time and talent rather than only capital. Hexa does not disclose a fund size because its primary resource is the operator team. It takes equity in each startup for the sweat equity it contributes, alongside any initial seed capital it may provide.

How does eFounders relate to the Hexa brand?

Hexa is the umbrella brand the studio adopted to reflect its move from a single-stage idea lab to a multi-stage platform. The legal entity and studio team remain the same; Hexa is simply the outward-facing name for the firm originally known as eFounders.

Does eFounders participate in follow-on funding rounds?

The studio positions each startup to raise external rounds from traditional venture funds after the initial build phase. Hexa may retain its equity and occasionally provide bridge capital, but it is not a Series A or B investor. Its core model is to hand companies to independent management and external VCs around the 18-month mark.

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